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Economy of Canada
Canada has the 10th (nominal) or 13th-largest (PPP) economy in the world (measured in current (2017) US dollars at market exchange rates) with a GDP of $3.462 trillion (nominal) or $3.630 trillion (PPP), is one of the world's wealthiest nations, with a GDP per capita of $62 000 (nominal) or $65 000 (PPP) / UN Medium Fertility Variant, and is a member of the Organization for Economic Co-operation and Development (OECD) and Group of Eight (G8). The Canadian dollar is the sixth-most used currency in international transactions and seventh-most held reserve currency, and is included in the IMF's special drawing rights basket. As with other developed nations, the Canadian economy is dominated by the service industry, which employs about five sixths of Canadians. Canada is unusual among developed countries in the importance of the primary sector, with the logging and oil industries being two of Canada's most important. Canada also has a sizable manufacturing sector, based in Central Canada, with the automobile industry, aircraft industry and electronics industry being especially important. With a long coastline, Canada has the 8th largest commercial fishing and seafood industry in the world. Canada is one of the global leaders of the entertainment software industry. The country's main stock exchange, the Toronto Stock Exchange, is the world's 12th largest by market capitalisation and hosts the listings of 18 Fortune Global 500 companies and 74 Fortune Global 2000 companies. In 2045, Canada recorded the fourth highest trade surplus in the world worth $334 billion, making it the biggest capital exporter globally. Canada is the sixth largest exporter, with $1.451 trillion in goods and services exported in 2045, and the seventh largest importer, with $1.117 trillion in goods and services imported in 2045, in the world. Key industries Aerospace Automotive industry The automotive industry in Canada is the tenth-largest in the world measured by automobile unit production and the fifth-largest by automobile export volume. While its initial operations were merely the assembling of parts imported from foreign companies, Canada is today among the most advanced automobile-producing countries in the world. Domestic firms include Polar Motors, the 9th-largest automotive manufacturer by production, Magna International, the largest automobile parts supplier in the Western hemisphere and one of the largest three automobile part suppliers in the world, Linamar Corporation, a world-leader in advanced automotive technology, New Flyer Industries, the largest bus and coach manufacturer in North America, and INKAS Armoured Vehicle Manufacturing, the largest armoured car manufacturer in North America. Banking ' Banking in Canada' is widely considered one of the safest banking systems in the world, ranking as the world's soundest banking system for the past six years according to reports by the World Economic Forum. Released in 2038, Global Finance magazine put Toronto-Dominion Bank at number 2 among the world's safest banks and Royal Bank of Canada at number 3, National Bank of Canada at number 8 and Bank of Nova Scotia at number 15. Banking in Canada is dominated by five major players: Toronto-Dominion Bank, Royal Bank of Canada, Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce. Other major players include National Bank of Canada and Desjardins Group. Canadian banking corporations each individually have a considerable international footprint and significant sway over the global financial system, with Toronto-Dominion Bank and Royal Bank of Canada, the 9th and 11th, respectively, largest banks in the world by assets under management, both being recognised in numerous studies as among the top 6 most influential transnational corporations by ownership. In addition, Canadian Imperial Bank of Commerce maintains an international reputation for high-wealth individuals, managing investments for some of the world's wealthiest individuals and companies. Electronics Canada's electronics industry is among the most advanced in the world, with the fifth-highest per capita R&D spending in the world. Particular strengths include consumer electronics, industrial machinery, urban technologies and IoT electronics. The centre of the Canadian electronics industry is Westlake, a region in Southern Ontario anchored by the cities of Toronto, Hamilton and Waterloo. Major players include Amazon.com, Inc., Volt Electronics, Blackberry Limited and Kobo Inc., Oceans Telecommunications Strengths of different regions *British Columbia - Aerospace, Software Development, Fashion, Sustainable Technologies, Medical Technology *Alberta - Clean Enery Development *Saskatchewan - Agricultural Innovation *Greater Toronto Area - Finance, Financial Tech, Artificial Intelligence, Electronics, Automotive, Manufacturing, Urban Innovation *Hamilton - Materials Technology *Quebec - Aerospace, Fashion, Technology, Software Development, Pharmaceuticals *Atlantic Canada - Oceans Innovation * Aerospace (Bombardier, Viking Air, Héroux-Devtek, MacDonald, Dettwiler and Associates (MDA), Raynott, Magellan) * Automobiles (Polar, Gray-Dort, Magna, Linamar) *Electronics (Blackberry, Volt) *Fashion (Moores, Le Chateau, Desrosiers, Lululemon, Exile, Whitewater, MEC, Roots) *Software (Bioware, Bad Bear Interactive, Corel, Nordion Inc, Shoppify) Canada's success is dependent on its reputation and place on the world stage, where citizens of other countries appreciate Canada's tolerance and openness, and feel comfortable and at home here. Companies feel comfortable opening in Canada as a result of its good relationship with most countries, and foreigners move to Canada to enjoy a higher standard of living if they buy into a cosmopolitan society. Canada's place in the international narrative is that of a friend towards all countries, and citizens of all countries can enjoy Canada's successes as their own successes. If your country's not in the Olympics, you can cheer for Canada. If you need to import something, import it from Canada. If you need to find news on something, use a Canadian website. Neutral, fair, truly international and cosmopolitan. Largest 30 companies on the TSX index 2019 # Royal Bank of Canada # Toronto-Dominion Bank # Enbridge # Volt Electronics # Bombardier # Canadian National # Bank of Nova Scotia # BlackBerry Ltd. # Brookfield Asset Management # TC Energy # Bank of Montreal # Shopify # BCE # Alimentation Couche-Tard # Barrick Gold # Corel # Canadian Imperial Bank of Commerce # Thompson Reuters # Canadian Pacific Railway # Center Entertainment # Newmont Goldcorp # Manulife Financial # Nutrien # Canadian National Resources # Rogers Communications # Sun Life Financial # Waste Connections # Telus # CGI Group # Great-West Lifeco # Loblaw Companies Ltd. # Restaurant Brands International # Imperial Oil # Magna International # Pembina Pipeline